Reason for this visit
Estonia, a country praised as one of the most crypto-friendly in the EU, revoked the licenses of more than 1,000 crypto companies in 2020. Estonia's financial intelligence unit, known as FIU, has revoked the licenses of about 70 percent of cryptocurrency companies operating in the country this year. Estonia was widely regarded as a crypto industry pioneer after enacting a series of laws that seemed designed to encourage exchanges and ICOs. However, major changes in the regulatory environment have made it more difficult for licensed crypto companies to comply with local regulations. To help investors or practitioners get a more comprehensive understanding of the local exchanges, the survey team decided to go to the Republic of Estonia for on-site visits.
This time the survey team visited the cryptocurrency exchange United Traders Exchange in Tallinn, the capital of Estonia, with specific address at Harju maakond, Tallinn, Lasnamäe linnaosa, Väike-Paala tn 2, 11415.
According to the above address, the survey team came to the destination of this survey, which is located in Vaike-Paala Street, Estonia. The office building is a six-story one. The ground floor has a catering store and the upper floor is used for company offices. The surveyors did not find the logo of the exchange United Traders Exchange on the building's exterior wall or around the main entrance.
The surveyors entered the lobby on the first floor and observed the directory of building carefully. After double-checking, they did not find the nameplate of United Traders Exchange.
In another part of the lobby on the first floor, the surveyors found a lot of company's nameplates printed by the printer and pasted up. After checking, they did not find the nameplate of United Traders Exchange. Also, there were no other directory in the lobby. Thus, the surveyors concluded that United Traders Exchange was not located in the building.
The survey team went to Tallinn, Estonia, to visit the cryptocurrency exchange United Traders Exchange, and found no business premise of the exchange. It was supposed that the exchange might just use that address to register its company, or there was no offline exhibition place. Please be prudent when trading with this exchange.
The content is for informational purpose only, and shall not be taken as final order for making choice.
2-5 years | Suspicious Regulatory License | Digital Currency License | High potential risk
United Traders Exchange